12 River Street Milton, Vermont 05468

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For Sale Status
$940,000 List Price
Multi Type
5 Beds
3 Baths
6,426 Sqft
Listed By Theresa Ferrara Team of Coldwell Banker Hickok & Boardman
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NMLS# 446767

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Milton

3 residential + 5 businesses 3 residential + 5 businesses
New shingles on residential New shingles on residential
Investment opportunity Investment opportunity
5 business units w/ parking 5 business units w/ parking
Freshly paved Freshly paved
Ample parking Ample parking

An Impeccable Milton Investment

Investors, landlords & entrepreneurs this is your opportunity to own an impeccably maintained & updated mixed-use treasure in Chittenden County. Central to Milton's business district & only minutes to I-89, this unique 2.5 story property contains 3 residential apartments in the upper level, with 5 business units beneath. All units are currently leased to reliable tenants - with five flourishing businesses operating on the lower level. In addition to ample parking & handicap accessibility, this property is convenient & functional - the owner has done endless updating to ensure ultimate efficiency & extend the longevity of the building. With over 6,000 sq. feet of finished, usable space the opportunities are endless. Every aspect of exterior upkeep has been covered - fresh pavement throughout the parking lots & driveway, retention areas to deter excess water, new shingles on the residential portion of the building & a white rubber membrane roof. A fully functioning drilled well exists on the property, should the new owner choose to switch from municipal water. With a new stainless steel liner installed in the chimney just last year - the dedication to this property is evident. Vast interior updating was complete in 2019, including new polished concrete in the commercial section, suspended ceilings, new wiring & LED lighting. An ADA bathroom was also installed, as well as a leisure room & a break-room for employees. If you are seeking a business opportunity, this is it!

Property Location

Property Details

MLS#  4923114 Bedrooms  5 Garage Size   Car
List Price  940,000 Total Bathrooms  3 Year Built  1900
Type  Multi-Family Lot Size  0.3000 Acres Taxes $6,541
Units  3 Stories  1/2/1900 Road Frontage  97
Annual Income  $0 Style  Multi-Family, Multi-Level Water Frontage  
Annual Expenses  $0 Finished  6,426 Sqft Construction  No, Existing
Zoning   Mixed Use; Commercial Above Grade  2,190 Sqft Seasonal  No
Total Rooms  5 Below Grade  4,236 Sqft List Date  Jul 29th, 2022
Gross Income  $0 Operating Expenses  $0 Net Income  $66,084
Expenses Includes 
Unit 1   1 Beds, 1 Baths, $1,360/Monthly Unit 2   2 Beds, 1 Baths, $1,800/Monthly
Unit 3   2 Beds, 1 Baths, $1,800/Monthly
ConstructionWood Frame, Other
BasementWalkout, Storage Space, Slab, Finished, Interior Access
Interior Features
Exterior Features
Exterior  Brick, Vinyl Siding Disability Features  
Foundation  Concrete House Color  Brick
Floors  Laminate, Concrete, Vinyl Plank Building Certifications  
Roof  Membrane, Shingle HERS Index  
DirectionsHeaded North on I89, take exit 17 onto US-2 toward Milton. Turn left onto US-2 toward Colchester. Turn left onto Route 7 South. Keep left for 4.3 miles, property is on the right.
Lot DescriptionUnknown, Sloping, Landscaped, City Lot, Sloping, Commercial Zoning, Near Bus/Shuttle, Business District
Garage & Parking  No, , , Off Street, On Site, Assigned, Paved, 6+ Parking Spaces, Paved
Road Frontage  97 Water Access  
Driveway  Paved, Common/Shared Water Type  
Flood Zone  No Water Body  
Zoning  Mixed Use; Commercial
School District  Milton Middle  Milton Jr High School
Elementary  Milton Elementary School High  Milton Senior High School
Heat Fuel  , Oil Excluded  Land and physical building convey. Businesses operate as independent leases.
Heating/Cool  Wall AC Units, Hot Air Negotiable  
Sewer  Public Parcel Access ROW  
Water  Public, Drilled Well ROW for Other Parcel  
Water Heater  On Demand, Oil, Kerosene, On Demand Financing  
Cable Co  Xfinity Comcast Documents  Lease Agreements, Deed
Electric  Circuit Breaker Tax ID  396-123-10931
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